Magazine article Public Finance

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Magazine article Public Finance

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Article excerpt

Institutional incomes

Political parties tend to focus on one-off , taxation-funded increases in social care provision - and there is a need for a signifi cant increase in public expenditure - but what also matters is the long-term trend in societal spending on care.

In an era of endless austerity, two main processes protect and grow ongoing spend. Core programmes like the NHS are protected by current and future policy makers. Where a policy area is more marginal, secondary protection can also come from funding institution strength; the BBC, universities (while student loans continue) and German long-term care provision (funded by mandatory social long-term care insurance) all have strong funding institutions. All have enjoyed rising incomes.

UK social care lacks a strong funding institution and, as a result, has suff ered ongoing retrenchment. Th is institutional failing needs to be addressed. …

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